PT Bank Mandiri (Persero) Tbk (PPERF)
For informational purposes only. Not financial advice. Analysis by Sedat ANAK, Founder & Editor-in-Chief | AI-powered analysis. Data sourced from SEC filings and institutional-grade financial providers. Editorially reviewed. Not financial advice.
PT Bank Mandiri (Persero) Tbk (PPERF) trades at $0.23 with AI Score 63/100 (Grade B+). PT Bank Mandiri (Persero) Tbk is a leading Indonesian financial institution offering a comprehensive range of banking products and services to individuals and businesses across Indonesia and several international markets. Market cap: $21.75B, Sector: Financial services.
Price live · AI analysis from Jun 14, 2026Analyst Coverage for PPERF: PPERF does not currently have published analyst price targets in our coverage universe. This is common for smaller-cap names with limited Wall Street coverage. In the absence of analyst consensus, our AI model evaluates PPERF against Financial Services peers across nine fundamental dimensions and assigns a mixed fundamental profile based on the underlying data.
PPERF: 4/4 perspectives are bullish. Dominant signal: Seth Klarman bullish.
How is this calculated? →PT Bank Mandiri (Persero) Tbk (PPERF) Financial Services Profile
PT Bank Mandiri (Persero) Tbk is a prominent Indonesian financial institution offering a comprehensive suite of banking products and services to individuals and businesses across Indonesia and internationally. With a robust network of 2,609 branches and 13,087 ATMs, the bank specializes in retail, corporate, and investment banking, supported by a strong digital presence and diverse financial offerings.
What Is the Investment Thesis for PPERF?
PT Bank Mandiri (Persero) Tbk presents a compelling profile within the Indonesian financial services sector, characterized by its substantial market capitalization of $21.75B and a robust profit margin of 29.7%. The company's attractive dividend yield of 11.36% further underscores its potential for income-focused investors. Key value drivers include its extensive domestic and international branch network, which provides broad market penetration and diversified revenue streams from both individual and business clients. Growth catalysts are anticipated from the ongoing expansion of its digital lending capabilities, catering to a tech-savvy population, and continued penetration into the burgeoning micro and SME loan segments within Indonesia. Furthermore, leveraging its international presence for trade finance and remittance services offers avenues for cross-border growth. Potential risks include exposure to economic fluctuations in its operating markets, competitive pressures from both traditional banks and fintech disruptors, and regulatory changes that could impact its operational framework or profitability. The company's P/E ratio of 6.4 suggests a potentially undervalued position relative to its profitability.
Based on FMP financials and quantitative analysis
PPERF Key Highlights
- Market capitalization of $21.75B, indicating significant scale and market presence within the financial services sector.
- A strong profit margin of 29.7%, demonstrating efficient operations and robust profitability.
- Gross margin of 80.5%, reflecting effective management of interest income and fee-based services.
- An attractive dividend yield of 11.36%, positioning the company as a notable income-generating investment.
- Extensive operational network as of December 31, 2021, including 2,609 branches and 13,087 ATM facilities, underscoring its broad customer reach.
Who Are PPERF's Competitors?
PPERF is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.
| Company | Price | Change | Market Cap | AI Score |
|---|---|---|---|---|
| PSZKF Powszechna Kasa Oszczednosci Bank Polski Spólka Akcyjna | $29.26 | +0.00% | $36.58B | 49 |
| BKHPF Bank Hapoalim B.M. | $23.00 | -14.66% | $30.08B | 51 |
| MLYBY Malayan Banking Berhad | $5.42 | +8.40% | $32.78B | 52 |
| SGBLY Standard Bank Group Limited | $20.19 | +1.76% | $32.77B | — |
| CEBCF China Everbright Bank Company Limited | $0.40 | -3.33% | $23.63B | 46 |
| MCHB Mechanics Bank | $16.24 | +0.50% | $3.58B | 71 |
| STLE Steele Bancorp Inc. | $43.05 | -0.67% | $80.01M | 69 |
| NASB NASB Financial, Inc. | $40.30 | +0.00% | $289.22M | 68 |
AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance
What Are PPERF's Key Strengths?
- Extensive domestic and international branch and ATM network providing broad market reach.
- Diversified product portfolio catering to individuals, micro-businesses, SMEs, and large corporations.
- Strong profitability with a 29.7% profit margin and an attractive 11.36% dividend yield.
- Significant employee base (38,731) supporting widespread operations and customer service.
- Established presence in key international financial centers enhancing global trade capabilities.
What Are PPERF's Weaknesses?
- Reliance on economic stability in Indonesia and other operating regions for loan portfolio quality.
- Potential for slower adoption of digital services in some traditional customer segments.
- Exposure to currency fluctuations given its international operations.
- Operational complexities associated with managing a vast network of 2,609 branches.
- Disclosure status as 'Unknown' for OTC trading may limit investor transparency.
What Could Drive PPERF Stock Higher?
- Continued expansion of digital lending services, potentially leading to increased loan origination and fee income by 2027.
- Strategic initiatives to penetrate the micro and SME loan segments in Indonesia, driving growth in its core lending business.
- Further leveraging its international branch network to enhance trade finance and remittance volumes over the next 12-24 months.
- Development and cross-selling of wealth management and investment products to its growing customer base, boosting fee-based revenue.
- Implementation of new technologies to improve operational efficiency and customer experience in its e-banking platforms by late 2026.
What Are the Key Risks for PPERF?
- Financial-distress signal — its Altman Z-Score of 0.46 sits in the distress zone (elevated bankruptcy risk).
- Economic downturns in Indonesia or other key operating markets could lead to increased non-performing loans and impact asset quality.
- Intense competition from both traditional banks and emerging fintech companies, potentially pressuring interest margins and market share.
- Adverse changes in regulatory policies or interest rate environments by the Indonesian central bank could affect profitability and growth strategies.
- Exposure to foreign exchange rate fluctuations due to its international operations, which could impact reported earnings.
- Liquidity and transparency risks associated with trading on the 'OTC Other' tier, potentially affecting investor confidence and share price stability.
What Are the Growth Opportunities for PPERF?
- **Expansion of Digital Lending and E-banking Services**: The digital transformation of financial services in Indonesia and Southeast Asia presents a significant growth avenue. With a large, digitally native population, increasing the adoption and sophistication of its e-banking platforms and digital lending products can capture a larger market share. This includes enhancing mobile banking features, streamlining online loan applications, and integrating with digital payment ecosystems. The market for digital financial services is projected to continue its rapid expansion over the next five to ten years, driven by convenience and accessibility, allowing Bank Mandiri to reach underserved segments and improve operational efficiency.
- **Penetration into Micro and SME Business Segments**: Indonesia's economy is heavily reliant on micro, small, and medium enterprises (MSMEs), which often face challenges in accessing traditional financing. Bank Mandiri's existing 'people's business loans' and 'micro business loans' position it well to further penetrate this segment. By developing tailored financial products, offering simplified application processes, and leveraging its extensive branch network for outreach, the bank can tap into a vast, growing market. This focus aligns with government initiatives to support MSMEs, potentially leading to sustained loan portfolio growth and increased financial inclusion over the medium term.
- **Leveraging International Branch Network for Trade Finance and Remittances**: With seven overseas branch offices in key financial hubs like Singapore, Hong Kong, and Shanghai, Bank Mandiri is strategically positioned to capitalize on cross-border trade and remittance flows. Enhancing its trade finance services, including export/import financing, standby letters of credit, and bank guarantees, can attract more corporate clients engaged in international commerce. Furthermore, optimizing remittance services can capture a larger share of funds sent by Indonesian expatriates, strengthening its foreign currency operations. This opportunity is ongoing, driven by global trade dynamics and diaspora economic activity.
- **Growth in Wealth Management and Investment Products**: As Indonesia's middle class expands, so does the demand for sophisticated wealth management and investment solutions. Bank Mandiri's offering of mutual funds, stocks, bond trading, and various insurance products positions it to capture this growing market. By enhancing advisory services, introducing innovative investment vehicles, and cross-selling to its existing customer base, the bank can increase its fee-based income. This growth opportunity is a long-term trend, expected to accelerate over the next decade as personal wealth accumulates and financial literacy improves across the archipelago.
- **Strengthening Cash Management and Supply Chain Financing**: For its corporate and institutional clients, optimizing cash management services and expanding supply chain financing solutions represent a significant growth area. By providing advanced tools for liquidity management, payment processing, and integrated supply chain platforms, Bank Mandiri can deepen its relationships with businesses. These services offer sticky client relationships and generate recurring fee income. As businesses seek greater efficiency and resilience in their operations, demand for comprehensive cash and supply chain solutions will continue to grow, providing an ongoing opportunity for the bank to enhance its corporate banking segment.
What Opportunities Does PPERF Have?
- Further expansion of digital lending and e-banking services to capture the growing digital economy.
- Increased penetration into the underserved micro and SME business segments in Indonesia.
- Leveraging its international branches to enhance trade finance and remittance services.
- Growth in wealth management and investment products driven by an expanding middle class.
- Strategic partnerships with fintech companies to innovate and expand service offerings.
What Threats Does PPERF Face?
- Intensified competition from both traditional banks and rapidly evolving fintech startups.
- Potential for adverse changes in interest rates or regulatory policies impacting profitability.
- Economic downturns or geopolitical instability in key operating markets affecting loan demand and asset quality.
- Cybersecurity risks and data breaches, which could erode customer trust and incur significant costs.
- Market volatility and liquidity challenges inherent in trading on the OTC market.
What Are PPERF's Competitive Advantages?
- Extensive branch and ATM network across Indonesia and internationally, providing broad physical access and customer touchpoints.
- Diversified product and service portfolio catering to individuals, micro-businesses, SMEs, and large corporations, reducing reliance on a single market segment.
- Strong brand recognition and state-owned heritage in Indonesia, fostering trust and a large customer base.
- Significant scale with 38,731 employees, enabling comprehensive service delivery and operational capacity.
- Established international presence in key financial hubs, facilitating cross-border transactions and global market reach.
What Does PPERF Do?
PT Bank Mandiri (Persero) Tbk, founded in 1998 and headquartered in Jakarta, Indonesia, emerged from the consolidation of four state-owned banks during the Asian financial crisis, establishing itself as a cornerstone of the Indonesian financial landscape. The company has since evolved into a diversified financial services provider, catering to a broad spectrum of clients including individuals, micro-businesses, small and medium enterprises (SMEs), and large corporations. Its extensive product portfolio encompasses traditional banking services such as savings, current, time, and foreign currency accounts, alongside a wide array of lending options including motorcycle loans, mortgage loans, housing loans, and various purpose-specific personal loans. For businesses, Bank Mandiri provides working capital loans, investment loans, people's business loans, syndicated loans, and micro business loans, supporting economic growth across different segments. Beyond core banking, the company offers a comprehensive suite of investment products, including mutual funds, stocks, and bond trading, as well as life, health, and general insurance products. Its digital transformation efforts are evident in its e-banking services and digital lending platforms, enhancing customer accessibility and convenience. Bank Mandiri's operational footprint extends beyond Indonesia to Singapore, Hong Kong, Timor Leste, Shanghai, Malaysia, the United Kingdom, and the Cayman Islands, facilitating international trade and financial services. As of December 31, 2021, the bank maintained a substantial physical presence with 2,609 branches, comprising 137 main branch offices, 2,465 sub-branch offices, and 7 overseas branch offices, complemented by 13,087 ATM facilities. This robust network, combined with specialized services like cash management, trade finance, custodial services, treasury services, trust services, and money transfer/remittance, solidifies its position as a leading regional bank.
What Products and Services Does PPERF Offer?
- Offers a full range of savings, current, time, and foreign currency deposit accounts.
- Provides diverse individual loans including motorcycle, mortgage, housing, education, home renovation, marriage, and health loans.
- Extends working capital, investment, people's business, syndicated, and micro business loans to commercial clients.
- Facilitates investment products such as mutual funds, stocks, and bond trading.
- Distributes life, health, and general insurance products.
- Issues credit, debit, and corporate cards, alongside comprehensive e-banking services and digital lending.
- Delivers cash management, trade finance (export/import, L/C, bank guarantee), and treasury services (hedging, investments).
- Offers custodial, trust (trustee, paying agent, escrow agent), money transfer, and venture capital financing services.
How Does PPERF Make Money?
- Generates interest income from its diverse loan portfolio, including retail, corporate, and micro-business loans.
- Earns fee-based income from various services such as e-banking, digital lending, credit/debit card transactions, trade finance, cash management, and wealth management products.
- Derives revenue from investment products like mutual funds, stocks, and bond trading, as well as insurance product distribution.
- Facilitates international transactions through its overseas branches, generating income from foreign exchange services and remittances.
- Manages client assets through custodial and trust services, earning fees for these specialized financial offerings.
What Industry Does PPERF Operate In?
PT Bank Mandiri (Persero) Tbk operates within the dynamic 'Banks - Regional' industry, a critical component of the broader Financial Services sector. In Indonesia, the banking industry is characterized by strong domestic competition and increasing digital transformation. Bank Mandiri holds a prominent position due to its state-owned heritage, extensive branch network, and diversified service offerings. The regional banking landscape is influenced by factors such as economic growth, interest rate policies, and regulatory environments across Southeast Asia and other international markets where it operates. Market trends include a shift towards digital banking, increased demand for micro and SME financing, and the growing importance of wealth management services for an expanding middle class. Bank Mandiri competes with both large domestic banks and international players, differentiating itself through its comprehensive suite of products, broad geographic reach, and focus on both retail and corporate segments.
Who Are PPERF's Key Customers?
- Individual consumers seeking personal banking, lending, and investment products.
- Micro and small businesses requiring working capital, investment, and specialized micro-business loans.
- Medium to large corporations needing working capital, investment, syndicated loans, cash management, and trade finance services.
- Institutional investors utilizing custodial, trust, and treasury services.
- Expatriates and international businesses leveraging remittance and foreign currency services through its overseas network.
How PT Bank Mandiri (Persero) Tbk Is Valued
PT Bank Mandiri (Persero) Tbk carries a market capitalization of $21.75B, placing it in the large-cap category. Relative to its peer group, PPERF's quantitative score of 63/100 is above the peer average of 50/100.
Company Profile
PT Bank Mandiri (Persero) Tbk operates in the Banks - Regional industry within the Financial Services sector. It is headquartered in Jakarta, ID. The company is led by CEO Riduan Ahmad. PPERF has traded publicly since 2012.
ROE 20%Key Financial Metrics
Return on equity for PT Bank Mandiri (Persero) Tbk stands at 20.4%, a gauge of how efficiently it converts shareholder capital into profit. Return on assets is 2.4%, showing how much profit it generates from its asset base. PPERF trades at a trailing price-to-earnings ratio of 6.38, below the Financial Services sector average of ~18x. Its free cash flow yield is 10.9%, a gauge of the cash the business throws off relative to its market value. A current ratio of 1.39 indicates the company holds enough short-term assets to cover its near-term obligations. Its earnings yield is 16.1%, the inverse of the P/E and a quick read on earnings relative to price.
F-Score 7/9Financial Health
PT Bank Mandiri (Persero) Tbk's Piotroski F-Score is 7/9, a 9-point checklist of profitability, leverage and efficiency — signaling solid underlying fundamentals. Its Altman Z-Score of 0.46 places it in the distress zone, a signal of elevated financial risk.
FY2026 estForward Outlook
Wall Street analysts project PT Bank Mandiri (Persero) Tbk revenue of about $155.76T for fiscal 2026, with EPS near $602.63. The estimate reflects 19 contributing analysts.
PPERF Financials
Fundamental Snapshot
Based on FMP financials and quantitative analysis · FY 2025
Bull Case vs Bear Case
Bull Case
- Extensive domestic and international branch and ATM network providing broad market reach.
- Diversified product portfolio catering to individuals, micro-businesses, SMEs, and large corporations.
- Strong profitability with a 29.7% profit margin and an attractive 11.36% dividend yield.
- Significant employee base (38,731) supporting widespread operations and customer service.
Bear Case
- Reliance on economic stability in Indonesia and other operating regions for loan portfolio quality.
- Potential for slower adoption of digital services in some traditional customer segments.
- Exposure to currency fluctuations given its international operations.
- Operational complexities associated with managing a vast network of 2,609 branches.
AI-generated arguments based on insider flow, news sentiment and technicals — not financial advice · July 2026
PPERF Latest News
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Stocks That Hit 52-Week Highs On Tuesday
· Mar 24, 2020
PPERF Analyst Consensus
Consensus Rating
Aggregated Buy/Hold/Sell recommendations from Benzinga, Yahoo Finance, and Finnhub for PPERF.
Price Targets
Wall Street price target analysis for PPERF.
PPERF MoonshotScore
What does this score mean?
The MoonshotScore rates PPERF's growth potential on a scale of 0-100 across multiple factors including innovation, market disruption, financial health, and momentum.
Leadership: Riduan Ahmad
Chief Executive Officer
Riduan Ahmad serves as the Chief Executive Officer of PT Bank Mandiri (Persero) Tbk, overseeing an organization with 38,731 employees. His career trajectory likely reflects extensive experience in the financial services sector, particularly within large-scale banking operations. Given the bank's comprehensive offerings and broad geographic reach, Mr. Ahmad's background would typically include significant expertise in retail banking, corporate finance, risk management, and strategic development, preparing him to lead one of Indonesia's largest financial institutions. His leadership is critical in navigating the complexities of a diversified bank with both domestic and international operations.
Track Record: Under Riduan Ahmad's leadership, PT Bank Mandiri (Persero) Tbk continues to manage a vast operational network and a diverse portfolio of financial products and services. His strategic decisions are instrumental in guiding the bank's efforts in digital transformation, expansion into key growth segments like micro and SME lending, and maintaining its international presence. The bank's sustained profitability and robust market capitalization reflect the strategic direction and operational efficiency fostered under his tenure.
PPERF OTC Market Information
PPERF trades on the OTC market under the 'OTC Other' tier, which represents the lowest tier for OTC-traded securities. Unlike major exchanges such as the NYSE or NASDAQ, which have stringent listing requirements for financial reporting, corporate governance, and minimum share prices, the 'OTC Other' tier has minimal to no financial disclosure requirements. This tier is typically home to companies that do not meet the standards for higher OTC tiers (like OTCQX or OTCQB) or choose not to provide regular financial information to U.S. regulators. Consequently, investors face significantly higher risks due to limited transparency and oversight compared to exchange-listed or even higher-tier OTC securities.
- OTC Tier: OTC Other
- Disclosure Status: Unknown
- Lack of transparency and limited financial disclosure, making it difficult to assess the company's true financial health and operational performance.
- High price volatility due to low trading volume and limited market oversight, leading to unpredictable stock price movements.
- Difficulty in obtaining reliable and timely information, which can hinder informed investment decisions.
- Limited liquidity, potentially making it challenging to enter or exit positions without significant price impact.
- Increased susceptibility to fraud or manipulation due to less stringent regulatory requirements compared to major exchanges.
- Verify the company's official website and any investor relations sections for direct disclosures, if available.
- Research any available news articles or press releases from reputable financial news outlets specific to PT Bank Mandiri (Persero) Tbk.
- Examine any filings made with the Indonesian financial regulators, as the primary listing may be on the Jakarta Stock Exchange.
- Assess the company's business operations and market position based on third-party industry reports or analyses.
- Investigate the background and track record of management beyond what is publicly stated for OTC purposes.
- Understand the regulatory environment in Indonesia and how it impacts the bank's operations and financial stability.
- Consider the potential for delisting or further restrictions on trading if disclosure standards are not met.
- The company is a large, established entity founded in 1998, indicating a long operational history.
- It operates an extensive network of 2,609 branches and 13,087 ATMs, suggesting significant physical infrastructure.
- It has a substantial employee base of 38,731, reflecting a large-scale organization.
- Its operations extend to several international locations, including Singapore, Hong Kong, and the UK, demonstrating global reach.
- It is a prominent Indonesian financial institution, likely subject to domestic regulatory oversight in its home country.
PT Bank Mandiri (Persero) Tbk Financial Services Stock: Key Questions Answered
What does PT Bank Mandiri (Persero) Tbk do?
PT Bank Mandiri (Persero) Tbk is a comprehensive financial services provider based in Jakarta, Indonesia, with operations extending across several international locations. The bank offers a wide array of banking products and services to individuals, micro-businesses, SMEs, and large corporations. Its core offerings include various types of deposit accounts, a broad spectrum of personal and business loans, and investment products like mutual funds and bonds. Additionally, it provides insurance, credit/debit/corporate cards, e-banking, digital lending, cash management, trade finance, treasury, custodial, and trust services. With an extensive network of 2,609 branches and 13,087 ATMs as of 2021, Bank Mandiri maintains a significant presence in the regional banking landscape.
What is PT Bank Mandiri (Persero) Tbk's credit quality and risk management approach?
While specific details on PT Bank Mandiri (Persero) Tbk's current credit quality metrics are not provided in the source data, as a large regional bank, its risk management approach would typically involve robust frameworks to assess and mitigate credit risk across its diverse loan portfolio. This includes evaluating borrower creditworthiness for individual, micro, SME, and corporate loans, setting appropriate provisioning levels for potential loan losses, and implementing stringent underwriting standards. Given its international operations, the bank would also manage market risks, operational risks, and liquidity risks through internal controls, compliance with regulatory guidelines in each operating jurisdiction, and continuous monitoring of economic conditions to maintain asset quality and financial stability.
How does PT Bank Mandiri (Persero) Tbk make money in financial services?
PT Bank Mandiri (Persero) Tbk primarily generates revenue through a combination of interest income and fee-based income. Interest income is derived from its extensive loan portfolio, which includes personal loans (motorcycle, mortgage, housing), business loans (working capital, investment, micro-business, syndicated), and other credit facilities. The difference between interest earned on loans and interest paid on deposits forms a significant portion of its earnings. Fee-based income comes from various services such as e-banking transactions, digital lending, credit and debit card usage, cash management solutions for businesses, trade finance services (e.g., letters of credit, bank guarantees), custodial services, treasury products, and the distribution of investment products like mutual funds, stocks, bonds, and insurance. Its international branches also contribute through foreign exchange and remittance services.
What are the main risks for PPERF?
PT Bank Mandiri (Persero) Tbk faces several key risks. A primary concern is the potential for economic downturns in Indonesia or its other operating regions, which could lead to an increase in non-performing loans and negatively impact the bank's asset quality and profitability. The financial services sector is highly competitive, with ongoing pressure from both traditional banking institutions and rapidly evolving fintech companies, which could erode market share and compress interest margins. Furthermore, as a bank with international operations, PPERF is exposed to foreign exchange rate fluctuations, which can affect its reported earnings. Regulatory changes by central banks or financial authorities in its operating jurisdictions could also impose new compliance costs or restrict certain business activities. Lastly, as an OTC-traded stock with an 'Unknown' disclosure status, investors face heightened risks related to transparency, liquidity, and potential price volatility.
What are the key factors to evaluate for PPERF?
PT Bank Mandiri (Persero) Tbk (PPERF) holds an AI score of 63/100 (moderate). P/E: 6.4x vs the S&P 500's ~20-25x. Not financial advice.
How frequently does PPERF data refresh on this page?
PPERF prices update in real time during U.S. market hours. Fundamentals refresh after quarterly filings; analyst ratings and AI insights update daily; news is aggregated continuously.
What has driven PPERF's recent stock price performance?
PT Bank Mandiri (Persero) Tbk (PPERF) moves on earnings results, analyst revisions, sector rotation, and market sentiment. Notable catalyst: Extensive domestic and international branch and ATM network providing broad market reach. See the News tab for the latest drivers. Past performance does not predict future results.
Should investors consider PPERF overvalued or undervalued right now?
PT Bank Mandiri (Persero) Tbk (PPERF) trades at 6.4x earnings. Compare P/E, P/S, and EV/EBITDA against sector peers for a full view.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Official Resources
Data provided for informational purposes only.
- CEO title inferred as 'Chief Executive Officer' based on managing a large employee base, as specific title was not provided.
- CEO background and track record are generalized based on the company's size and industry, as specific details were not provided.
- OTC analysis details (tier explanation, liquidity, risks, due diligence, legitimacy signals) are standard for the 'OTC Other' tier and 'Unknown' disclosure status, applied to the specific company context.
- Growth opportunities, catalysts, and risks are derived from the company's business description and general banking industry knowledge, tailored to the specific company where possible.
- Financial metrics are directly from the provided source data (Market Cap, P/E, Profit Margin, Gross Margin, Beta, Dividend Yield).